Binani to invest 4,200 cr in Gujarat

Binani to invest 4,200 cr in Gujarat

New Delhi: Binani Cement said on Thursday it has signed a Memorandum of Understanding (MoU) with the Gujarat government to invest 4,200 crore in the western state.

The MoU signed during the 5th edition of Vibrant Gujarat Summit entails the setting up of a 610 MW power plant, a captive jetty and 5 million tonnes per annum (mtpa) cement making facility.

“The MoU was recently signed between Gujarat Government and Binani Cement during the Vibrant Gujarat Summit. Binani is investing a total of 4,200 crore for these projects," the company said in a statement.

During the 2009 edition of Vibrant Gujarat, Binani Cement had signed a MoU to set up a 2.5 mtpa cement plant .

The proposed 4,200 crore outlay to be located in Sutrapada district of Junagadh and spread across 188 hectares includes the likely investment in the previously signed MoU for setting up the 2.5 mtpa cement plant as well.

It would manufacture both Ordinary Portland Cement and Pozzolona Portland cement in equal ratio.

The Mumbai based company said the 610 MW thermal power plant would come up in three phases starting with 110 MW and then 210 MW each in subsequent two phases.

The MoU with the Gujarat Maritime Board to set up the jetty having 10 mtpa capacity would also be built in three phases, it said.

Including its subsidiaries in Dubai and China, Binani has 8.75 mtpa cement manufacturing capacity now.